Square Is Now Processing $5 Billion In Annual Payments
Mobile payments company Square has released some new numbers today. Square is processing $5 billion in annual payments ($416 million in payments per month), which is up from $4 billion in annual payments in March. Payment volume has been up 25% over the past month.
Square is able to make funds available in merchant bank accounts by the next business morning for sales made before 5PM. Other merchant processors take up to 2 to 5 business days.